March 24, 2020 / 10:28 AM / 5 days ago

BRIEF-GL Ltd Says Covid-19 Caused Significant Reduction In Bookings And Increase In Cancellations In Hotels Of Hospitality Unit

March 24 (Reuters) - GL Ltd:

* SPREAD OF COVID-19 HAVE CAUSED A SIGNIFICANT REDUCTION IN BOOKINGS AND INCREASE IN CANCELLATIONS IN HOTELS OF OUR HOSPITALITY SUBSIDIARY, GLH

* EXPECTS FINANCIAL RESULTS FOR FULL FY ENDING 30 JUNE 2020 WILL BE SIGNIFICANTLY AND ADVERSELY IMPACTED COMPARED TO PREVIOUS FINANCIAL YEAR

* EXTENT OF COVID-19’S IMPACT ON OPERATIONS AND FINANCIAL PERFORMANCE FOR FY CANNOT BE DETERMINED AT THIS STAGE

* HOTELS WILL PROGRESSIVELY BE CLOSED TEMPORARILY, SAVE FOR A FEW

* UPDATES ON CO’S OPERATIONS IN LIGHT OF OUTBREAK OF CORONAVIRUS

* IMPLENTING MITIGATION PLANS INCLUDING INSTITUTING VARIOUS COST REDUCTION AND TEMPORARILY DEFERRING CAPITAL PROJECTS Source text for Eikon: Further company coverage:

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